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Explore the relationship between culture and economics, learn about economic problems and wants, production, vocabulary, and budgeting. Discover ways to show respect across cultures and the importance of resources in production.
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Economic Problems
Economic Wants
Economic Problem Economic Wants Production Budgeting Culture Vocabulary $100 $100 $100 $100 $100 $100 $200 $200 $200 $200 $200 $200 $300 $300 $300 $300 $300 $300 $400 $400 $400 $400 $400 $400 $500 $500 $500 $500 $500 $500
What is culture? 1 - 100 $100
A group of people’s way of life. 1 - 100 $100
1-200 What is one way to learn about culture? $200
Television, radio, movies, texts, internet… 1 - 100 . $200
1-300 What do cultures Borrow from other Cultures? $300
Food, dance, clothing, music… 1 - 100 $300
1-400 Give one way that you could show respect to someone from another country. $400
Answers Vary: Introduce yourself Invite them to work with you Play with them at recess … 1 - 100 $400
Give 3 of the elements of culture. $500
Clothing Food Transportation Shelter Recreation Personal care Family Tradition 1 - 100 $500
2-100 1 - 100 The choice that is given up when a decision is made is the _________. $100
Opportunity Cost $100
2-200 When there is not enough of something there is a ___________. $200
Scarcity $200
2-300 What can you do to help solve an economic problem? $300
2-400 If one group wants to build a mall and another group wants to build a factory there is a scarcity of _______. $400
Space $400
2-500 Joanna chooses to go ice skating over bowling. The opportunity cost is ____________. $500
Bowling $500
1 - 100 A consumer is _______ $100
3-100A 1 - 100 Someone who buys goods and services $100
3-200 The money a person makes to buy goods and services is called _________. $200
3-200A 1 - 100 Income $200
3-300 An item that you buy and can consume or use is called a _______. $300
Good $300
3-400 Books, bikes, popcorn, tables, and cars are all examples of ___________________. $400
3-400A 1 - 100 Goods $400
3-500 When a person does work for another person it is a _______. $500
Service 1 - 100 $500
4-100 1 - 100 Resources such as eggs, wheat, and water are __________. $100
Natural Resources 1 - 100 $100
4-200 Resources that are used over and over are ___________. $200
Capital Resources. 1 - 100 $200
4-300 A baker or farmer is an example of a _____________. $300
Human Resource 1 - 100 $300
4-400 Human, natural, and capital resources are used to produce _____________. $400
Goods 1 - 100 $400
4-500 Name a capital, human, and natural resource that would be needed to produce a book. $500
Natural- woodCapital-a pen/printerHuman- an author/publisher 1 - 100 $500
4-500A What is a budget? 1 - 100 $100